Premium financing allows SuretyBonds.com clients to break up what is typically one large upfront premium payment into smaller, more manageable payments. Qualified applicants might be eligible for financing if they cannot afford to pay their surety bond premium in full.
If a SuretyBonds.com client qualifies for premium financing, our team will provide a financing packet. The premium finance agreement is a formal document that outlines the three-party agreement among the person or company purchasing the bond, the surety company issuing the bond, and the finance company issuing the loan. The terms of the premium finance agreement (such as the down payment, interest, and any associated fees) vary depending on each surety company and premium finance company's individual requirements. By signing a premium finance agreement, the client agrees to all premium financing terms as required by the finance company.
Correctly completed financing paperwork must be returned to SuretyBonds.com in full before we can process the premium down payment and issue the associated surety bond.
If you have further questions about premium financing, call 1 (800) 308-4358 or email customercare@suretybonds.com, and one of our friendly representatives will be happy to help.